Flylal-Lithuanian Airlines has major financial difficulties

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loginas
Posts: 37
Joined: 09 Jan 2006, 00:00
Location: Kaunas, Lithuania

Flylal-Lithuanian Airlines has major financial difficulties

Post by loginas » 22 Dec 2008, 22:16

Flylal - Lithuanian Airlines is a company that operates scheduled flights using Flylal brand.
They have 26 mln eur more debt than assets and offered Lithuanian government to take them over for 1 LTL but government refused (http://balticbusinessnews.com/Default2. ... ef=lastadd).

All assets have been previously transferred to other companies that belong to Flylal Group Services that has same owners but not direct links with ailing airline. Flylal Group Services has subsidiary Flylal Charters that got their separate AOC several moths ago and now operates profitable charter flights. Other subsidiary Flylal Technics has agreement to perform some maintenance on SN's Boeing 737 airplanes among others.

Charlie Roy
Posts: 512
Joined: 29 Aug 2006, 22:20
Location: Europa

Re: Flylal-Lithuanian Airlines has major financial difficulties

Post by Charlie Roy » 16 Jan 2009, 18:57

Fly LAL has ceased operations.
http://www.flylal.com/

Air Baltic will no doubt be pleased.

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